This announcement follows Cameron's partnership with two Chinese-owned film distributors: Tianjin North Film Group and Tianjin Hi-tech Holding Group. Together, they have formed CPG China Division.

Cameron has assured the public that this is not an attempt by him "to tell Chinese film makers how to make movies." He is merely, "going to help them make a transition to 3D production technology as cost effectively as possible, and in a way that doesn't inhibit creativity," reports Reuters.

The director has long been a staunch supporter of 3D films but only managed to break through in his most recent 2009 hit, "Avatar." The film grossed $2.8 billion in box offices worldwide.

With "Avatar" fresh on his resumé, Cameron is confident that this is just the beginning of a "media revolution." "We're on the verge of a kind of media revolution. And we certainly have the enabling technology, we have the methodology, we've honed our skills," the Oscar-winnig director tells Reuters,

This is just the latest move by Hollywood to get a foothold in Chinese entertainment.

According to Xinhua News, they plan to build a $3.2 billion (RMB 20 billion) theme park in Shanghai, where fans of "Kung Fu Panda" will be able to enjoy "entertainment facilities, animation exhibitions and commercial developments including hotels and shopping areas" in Shanghai's trendy Xuhui district."

In fact, "Kung Fu Panda" was received so well by Chinese viewers ("Kung Fu Panda 2" earned $74.6 million at the Chinese box office) that Oriental DreamWorks also announced that they would be teaming up with China Media Capital, the Shanghai Media Group, and Shanghai Alliance Investment Limited to co-produce the third installment of the hit movie franchise.

Meanwhile, Walt Disney also cemented their position in the booming Chinese entertainment industry after starting construction on their own Walt Disney theme park, Channel News Asiareport. The project is estimated at $3.7 billion and is scheduled to be completed in 2015. It will also be located in Shanghai's Xuhui district.